Steel frame rusted through - any way back from this?

I noticed some bubbling in the paint around the NDS seat stay/dropout, scraped it off to find the tin worm had been busy. It's TIG welded Columbus Spirit; what are the chances of getting a new stay put in? (assuming none of the other tubes are rusting through, but it appears to be confined to this one)

have a look at the other side as well, i'm guessing there is no drain hole in to the drop.
new stays shouldn't be an issue, it migt even braze. depends on how much of a hole forms when the torch goes on it.

Bob, do you know Mikkel from Pyren bikes? He is making custom mtb frames using a welder just outside San Sebastián. Maybe he could get it fixed for you? Drop me a mail and I can introduce you if you don't already know him. Or get in touch through his website, Pyren Bikes

Nae worries ben, i did say absolutely no rush at all and i meant it - nae cash to build it up at the moment so it's just gonna be hung on the wall for a few months till i get the funds together for a suitable bling build so crack on wi your other work if you like.